In the ever-changing business landscape, companies are faced with numerous challenges and opportunities, especially when it comes to growth. As a business owner, it’s essential to strike a balance between sustaining your current operations while positioning yourself to capitalise on future trends. This is where McKinsey’s Three Horizons of Growth comes into play, a strategic model that guides businesses on how to manage innovation across three key areas to achieve long-term success. Many business owners are familiar with the struggle of balancing present needs with future ambitions. Too much ..read more

In today’s highly competitive business environment, having expertise in your core field is no longer enough to ensure sustained success. Many business owners excel in their trade, but they often find themselves struggling with broader strategic aspects like financial management, marketing, or scaling operations. This is where a business coach or business advisor can make a significant impact, offering the wisdom and guidance needed to steer your business in the right direction ..read more

Ben Lynch, a pioneer in New Zealand’s open banking sector, began his journey with a simple goal: to avoid bank overdraft fees. This personal challenge led to the development of a system that automated fund transfers between his accounts, laying the groundwork for his involvement in open banking. Today, Ben is the driving force behind Akahu and Dolla, platforms designed to streamline financial processes for individuals and small businesses, showcasing the practical benefits of open banking ..read more

Outsourcing financial and bookkeeping services can be a game-changer for businesses, allowing owners to focus on growth and strategy. This article explores the top reasons businesses turn to outsourced services and how they can benefit your operations. 1. Time Efficiency Outsourcing bookkeeping frees up valuable time for business owners and internal teams, allowing them to focus on core activities that drive growth. When financial tasks are handled by experts, it ensures accuracy and efficiency, giving business leaders peace of mind. 2. Improved Quality and Expertise Bookkeeping is a spec ..read more

You might have heard a bit about ‘virtual’ roles in small-medium businesses. This is growing in popularity as Kiwi businesses are looking for ways to introduce the smarts of an expert without taking them on in a full-time capacity, or even keeping desk space aside for them. This approach can be especially useful for accessing senior leadership roles when needed. And it’s often the financial aspects of a business where owners are most in need of some experience and direction.  That’s where the Virtual Chief Financial Officer (CFO) comes in. RightWay functions as a virtual CFO for many of ..read more

Managing debtors is stressful no matter how many times you've had to deal with them, but doing so is important to your cash flow. That’s why you need the right processes in place to manage customer payments. If you don’t know what those are or how to get started, read our tips on effective debtor management for business success ..read more

Trusting someone with your business’ financial information can feel a bit daunting. But for so many business owners, trying to keep across all the little details in the numbers is pretty much impossible. This can mean things are missed, mistakes can be made and opportunities can go unnoticed. We totally understand why this is - not all business owners are best suited to financial forecasting, processing payroll or filing taxes. Ideally, you’d be able to spend your time on the things you’re most effective at, and harness the expertise of someone else on things that simply aren’t in your wheelh ..read more

Bookkeeping is about keeping financial transactions and records accurate and up to date. Without bookkeeping a business would run into problems with planning, cash flow and tax obligations. In a busy, growing business there’s much for an owner to think about, and becoming an expert simply isn’t practical. With that said, some basic understanding of bookkeeping requirements can help avoid getting into some tricky financial positions, even if you’re not personally the one managing or processing bookkeeping or payroll for your business.  So what are some ways that businesses can help keep b ..read more

One thing that history has shown us is that running a business will involve its fair share of ups and downs. While each business will have its own unique ride, all of us are impacted by the global and New Zealand economy in some way. All businesses should prepare and plan for periods where the phone may not be ringing as much or purse strings are tightening. Because even the longest boom periods will come to an end - when the tide goes out, you want to stay afloat!  Each business has its own set of goals, but we’d suggest including ‘the ability to survive in any typical economic conditio ..read more

Recently in a blog we touched on the idea that acquiring a new customer is much harder than retaining an existing one. In this article, we’re going to explore this topic of keeping your old customers connected to your business and ways to build more loyalty that drives repeat business ..read more